GSK Sells $1.1 Billion Stake in Former Consumer Unit Haleon (3)

GSK Plc has raised £886 million ($1.1 billion) from the latest sale of a tranche of shares in Haleon Plc, the consumer-health business it spun off last year.

The British drug company sold 270 million shares at a price of 328 pence, according to a regulatory announcement Friday. The price reflects a discount of about 2.5% to Haleon’s closing price on Thursday.

Accelerated offerings are typically priced at a discount to entice shareholders to buy into the deal.

Haleon stock dropped 2% in early trading in London. GSK was little changed.

The sale leaves GSK’s with a 7.4% stake ...